A couple of changes this year for payroll; (note this applies even if your only employee is yourself)
- This year the ATO is changing the way we report payroll data to them, previously we have reported it on BAS (Business Activity Statements) and IAS (instalment Activity Statements) on a monthly or Quarterly basis. Going forwards we will use a new system called STP which means reporting your payroll data every pay. If you are using Xero, Quickbooks or MYOB these systems will report this data for you but you still need to set up the STP connection to the ATO and also follow some steps inside the software to lodge your data.
- At June 30 some important award changes – Sunday rates were changed to Saturday rates for most awards. Many other awards went up by 3%. End of year is a good time to double check your relevant awards and make sure you are paying in line with the awards.
Some reminders;
- Super for the June quarter is due by 28 July
- Payment summaries are due to be sent to employees by 14th July and the ATO by the end of August (if you are using STP already then you no longer send payment summaries)
- Do you have workers compensation insurance in place?
If you need help with any of the above please get in contact. Whether this is setting up & configuring STP or processing your payroll end to end we can assist.